reconocimiento de crédito

English translation: acknowledgment of indebtedness

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Explanation:Whereas the phrase "suspensión de pagos" by itself refers simply to a suspension of payments by a company, a "juicio de suspensión de pagos" is an actual insolvency proceeding, i.e., a type of reorganization proceeding (short of an actual declaration of bankruptcy by a company) in which the appointment of a trustee or financial supervisor is usually required. One step in this proceeding is the "reconocimiento de crédito," in which the company being reorganized admits that credit has been extended to it (either voluntarily or as a result of the non-payment of its debts) by the parties with whom it has business relationships, and states that it owes money to those parties -- in other words, the company being reorganized acknowledges its indebtedness to its creditors.

Thank you, a very helpful explanation.
I had found that phrase before, but it had no explanation behind it, so I didn't use it. I also found the term
"marshalling claims" - what d'you think of this term, to me it seems connected but incorrect - rather this
process occurs after the acknowledgment of indebtedness.
I wonder if you could also tell me what you think the term "convenio preventivo" means, in the same context,
i.e. juicio de suspensión de pagos. Could it be the reorganization plan?
Thanks again.4 KudoZ points were awarded for this answer

Explanation:Whereas the phrase "suspensión de pagos" by itself refers simply to a suspension of payments by a company, a "juicio de suspensión de pagos" is an actual insolvency proceeding, i.e., a type of reorganization proceeding (short of an actual declaration of bankruptcy by a company) in which the appointment of a trustee or financial supervisor is usually required. One step in this proceeding is the "reconocimiento de crédito," in which the company being reorganized admits that credit has been extended to it (either voluntarily or as a result of the non-payment of its debts) by the parties with whom it has business relationships, and states that it owes money to those parties -- in other words, the company being reorganized acknowledges its indebtedness to its creditors.

Thank you, a very helpful explanation.
I had found that phrase before, but it had no explanation behind it, so I didn't use it. I also found the term
"marshalling claims" - what d'you think of this term, to me it seems connected but incorrect - rather this
process occurs after the acknowledgment of indebtedness.
I wonder if you could also tell me what you think the term "convenio preventivo" means, in the same context,
i.e. juicio de suspensión de pagos. Could it be the reorganization plan?
Thanks again.

Explanation:In this context, it's a temporary or provisional agreement between the company and its creditors, usually monitored by the trustee or supervisor, under which the company promises to perform, or refrain from performing, certain acts (usually of a financial nature) while the reorganization proceedings are underway. -- " Marshalling claims" is what the creditors do, specifically when they gather all their information about the debts owed to them by the company and present those claims to the court or to the trustee. This step can take place either before or after the debtor formally acknowledges its debts. -- Best, HC